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Access Co., a developer of mobile phone software, said Friday it will acquire U.S. mobile-device software company PalmSource Inc. for 34.4 billion yen.

Tokyo-based Access will effectively make PalmSource, based in Sunnyvale, Calif., a wholly owned subsidiary around December, it said.

Access expects to expand its mobile phone applications lineup and shore up profitability by obtaining PalmSource’s customers and reducing development costs.

PalmSource has been providing software for hand-held devices to Japanese and U.S. companies, including Sony Corp. and Palm Inc., the company said.

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